- Krafton expands more into the mobile gaming market
- The deal was made for almost $20 million
- “We look forward to seeing the incredible experiences we’ll create together,” says 5minlab CEO
PUBG owner Krafton is expanding its mobile gaming portfolio by purchasing Smash Legends developer 5minlab.
Krafton Buys 5minlab
South Korea-based studio Krafton, the developer of popular battle royal PUBG is once again venturing into the world of mobile gaming by acquiring 5minlab, the developer of Smash Legends, а globally popular PvP action game available on Steam, as well as iOS and Android devices. This acquisition supports KRAFTON’s goal of strengthening its game-related capabilities.
Krafton acquired 5minlab and 100 percent of its shares through an earn-out payment of $19.9 million. With this deal, Krafton acquires a developer in the business since 2013 and has created games like Smash Legends and Como in Adventure, Brickscape, and Express Thru.
CEO of Krafton CH Kim commented on how 5minlab has taken on bold challenges and grown significantly since its creation. “Krafton believes we share many of the same goals and aspirations when it comes to game development,” he explained. “Through this acquisition, Krafton secures an independent studio with outstanding developers who possess excellent technical skills. With our support, we only hope to embolden 5minlab’s ability to create exciting new titles.”
Moon-hyoung Park, CEO of 5minlab commented on Krafton’s commitment to strengthening its technology and growing its game-development capabilities. “We believe that 5minlab’s global operation experience and technology will help Krafton solidify its competitive edge,” he said. “We look forward to seeing the incredible experiences we’ll create together.”
Krafton Is Expanding More into the Mobile Sphere
Krafton’s acquisition is yet another smaller developer that bolsters the Korean company's already very stable position on the market. The company already consists of PUBG Studios, Bluehole Studio, Striking Distance Studios, RisingWings, Dreamotion, and Unknown Worlds, each with its own unique expertise.
Some of Krafton’s products include the very popular battle royal PUBG, over which the company recently took Google and Apple to court. Some other famous titles that Krafton owns are The Callisto Protocol, TERA, and ELYON. The company has evolved into a more heavily tech-focused organization, so its new assets in the face of 5minlab will allow Krafton to further expand into the mobile gaming market.
